According to the Japan Broadcasting Association (NHK), on the evening of the 20th local time, the five-party meeting attended by representatives of the International Olympic Committee, the International Paralympic Committee, the Tokyo Olympic Organizing Committee, the Japanese government and the Tokyo Metropolitan Government unanimously decided that the Tokyo Olympics will not Will receive ordinary audiences from overseas. Experts estimate that this move will cause economic losses of over 150 billion yen.
How do you think Munich Re will pay 500 million US dollars to the Tokyo Olympic Committee (event cancellation insurance)?
The bid and preparations for the 1964 Tokyo Olympics led to a large number of major infrastructure construction projects such as the Metropolitan Expressway, Tomeihan Expressway, Tokaido Shinkansen, and Haneda Airport expansion. Tokyo completely changed its appearance from the scorched soil of the Pacific War. Japan started the “high economic growth period” of the entire 1960s, and it exceeded the task of doubling or quadrupling per capita income within five years. The Lehman shock in 2008 (the subprime mortgage crisis in the United States) and the 311 earthquake in 2011 caused a series of negative economic consequences. The yen appreciated sharply, which eventually caused the then Democratic regime to step down. Tokyo’s bid to host the 2020 Olympics is another major economic stimulus measure taken by Abe after the “three arrows”. It is related to the historical evaluation of the entire second Abe regime and its derivative Suga Yoshihide regime. Last year, due to the full bloom of the global epidemic from Europe to the United States and Japan’s implementation of the so-called “emergency declaration” semi-blockade measures, the Olympic Games were forced to be postponed for one year. In the end, no one in Japan made it clear that this was the case, except that Abe resigned due to illness. So a little bit of the taste of the back pot. The one-year postponement has caused huge losses to the Japanese government, the Tokyo Olympic Organizing Committee, and the International Olympic Committee. The losses of this Olympic Games may have been much higher than the London and Rio Olympic Games. If it is held in a normal format, the loss of the Olympic Games may reach an unacceptable figure. The refusal to accept overseas audiences also completely violates Abe’s original intention of stimulating tourism and the economy in the Olympic bid. Since the Atlanta and Sydney Olympics, the cost of the Olympics has become higher and higher. With the exception of the Beijing Olympics, every event has failed to achieve the goal of profitability. Will the 2021 Tokyo Olympics become a turning point for the International Olympic Committee and even the entire modern Olympic movement?